5 Best Hemp Stocks To Buy Now

2. Aurora Cannabis Inc. (NASDAQ:ACB)

Number of Hedge Fund Holders: 10

Aurora Cannabis Inc. (NASDAQ:ACB) is a leading global producer and distributor of cannabis and cannabis derivatives. At the end of Q2 2022, 10 hedge funds held stakes in Aurora Cannabis Inc. (NASDAQ:ACB). The total value of these stakes amounted to $45.7 million, up from $40.8 million in the previous quarter with 9 positions. The hedge fund sentiment for the stock is positive.

Wall Street analysts are positive on Aurora Cannabis Inc. (NASDAQ:ACB) and the stock is among the best marijuana stocks to invest in now. On September 21, Piper Sandler analyst Michael Lavery revised his price target on Aurora Cannabis Inc. (NASDAQ:ACB) to $3 from $4 and maintained a Neutral rating on the shares. The analyst expects Aurora Cannabis Inc. (NASDAQ:ACB) to reach positive adjusted EBITDA by the third quarter of 2023. This September, Canaccord analyst Matt Bottomley revised his price target on Aurora Cannabis Inc. (NASDAQ:ACB) to C$2 from C$2.50 and upgraded the stock to Hold from Sell.

Over the past three months, Aurora Cannabis Inc. (NASDAQ:ACB) has received 1 Buy and 4 Hold ratings from Wall Street analysts. The stock has an average price target of $1.40 which implies a 14.75% upside from current levels.

As of June 30, Millennium Management owns more than 3.2 million shares of Aurora Cannabis Inc. (NASDAQ:ACB) and is the most prominent investor in the company. The fund’s stakes are valued at $4.32 million.